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14:54 Jan 24, 2003
This question was closed without grading. Reason: Answer found elsewhere
English to Portuguese translations [PRO] Bus/Financial / housing prices
English term or phrase:mortgage equity withdrawal
. Total "mortgage
equity withdrawal" (the increase in mortgage debt in excess of new housing investment) has surged in America, Australia and Britain in the past two years. Most dramatic has been Britain: house prices have risen by more than 25% over the past year, and Goldman Sachs estimates that mortgage equity withdrawal was equivalent to 8.5% of personal disposable income in the fourth quarter, more than at the peak of Britain's housing bubble in the late 1980s. In America and Australia, mortgage equity withdrawal has been running at a record 4% of disposable personal income.